UK pig prices - week ended 25 July 2015
UK finished pig prices began to rise again in the week ended 25 July, despite slaughterings increasing compared to the previous week.
The EU-spec SPP was up by almost a fifth of a penny on the previous week at 133.25p/kg. This left prices less than 28p/kg below levels seen in 2014, with the gap having narrowed by more than 5p in recent week as prices were falling this time last year. The latest increase in prices came despite estimated slaughterings being 3% up on the previous week and remaining well ahead of levels seen in 2014. Carcase weights fell by 200g compared to the previous week to average 80.17kg; this is the first time average weights have fallen below year earlier levels in 2015. The hot weather earlier in the month undoubtedly contributed to the lower weights. However, there are also reports of producers marketing pigs at lower weights due to space constraints, confirming supplies should remain plentiful in the coming weeks. The average probe measurement remained at 11.1mm.
In the week ended 18 July, the APP increased by over a tenth of a penny, going against the trend seen in the SPP. The EU-spec APP was at 137.30p/kg, almost 27p lower than the same week in 2014. With the differing trends seen in the APP and the SPP the gap between the two measures increased back to over 4p.
The price of both weights of weaners increased in the week ended 25 July. However the increase of over £1.60 per head seen for 30kg weaners, leaving it at £45.45 per head, was much larger than the increase of just a penny for 7kg weaners, leaving them at £33.11 per head. Both 30kg and 7kg weaners remained below levels seen in 2014, down by almost £12 and £7 respectively.